Welcome to our dedicated page for Portillo'S news (Ticker: PTLO), a resource for investors and traders seeking the latest updates and insights on Portillo'S stock.
Portillo's Inc. (NASDAQ: PTLO), the iconic fast-casual restaurant chain renowned for its Chicago-style street food, provides investors and industry observers with timely updates through this dedicated news hub. Track official press releases, financial disclosures, and strategic developments from the company behind legendary hot dogs, Italian beef sandwiches, and multichannel dining experiences.
This resource consolidates Portillo's key announcements, including quarterly earnings, menu innovations, operational expansions, and leadership updates. Investors gain direct access to growth initiatives, while food industry professionals monitor trends in commissary operations and customer engagement strategies.
Content spans regulatory filings, partnership announcements, and culinary developments that reflect Portillo's commitment to quality and nostalgia-driven dining. Bookmark this page for efficient tracking of the company's performance in the competitive fast-casual sector.
Portillo's Inc. (NASDAQ: PTLO) is piloting self-service kiosks in select Chicago and California restaurants. The initiative, in partnership with Bite, aims to enhance guest and Team Member experiences while optimizing operational efficiency. The 24-inch kiosks offer an additional ordering option, showcasing the full menu and potentially increasing check sizes.
Key points:
- Pilot locations in Downers Grove, IL, Chicago's River North, and California
- Kiosks designed to complement existing ordering channels
- Success metrics include line reduction, order accuracy, and satisfaction
- Technology integration focuses on enhancing the classic Portillo's experience
Portillo's Inc. (NASDAQ: PTLO) reported its Q2 2024 financial results, showing a 7.5% increase in total revenue to $181.9 million. The company experienced a 0.6% decrease in same-restaurant sales but saw improvements in operating income, Restaurant-Level Adjusted EBITDA, and Adjusted EBITDA. Key highlights include:
- Net income decreased by $1.4 million to $8.5 million
- Operating income increased by $0.7 million to $18.1 million
- Restaurant-Level Adjusted EBITDA rose by $1.8 million to $44.6 million
- Adjusted EBITDA increased by $0.6 million to $29.9 million
Portillo's opened two new restaurants in Q2 2024 and plans to open at least 10 new locations in 2024. The company updated its fiscal 2024 targets, projecting flat to slightly positive same-restaurant sales and maintaining its Restaurant-Level Adjusted EBITDA margin forecast of 23-24%.
Portillo's (Nasdaq: PTLO) will announce its second-quarter 2024 financial results on Tuesday, August 6, 2024, before the market opens. A live audio webcast will be held on the same day at 10:00 AM ET, hosted by CEO Michael Osanloo and CFO Michelle Hook. Investors can access the webcast and its replay on the company's investor relations website. Telephone access is available with toll-free and international dial-in options. A replay of the call will also be available via telephone.
Condado Tacos has announced Derrick Pratt as the new CEO, effective July 1, 2024. Pratt, with nearly 40 years of experience in the restaurant industry, previously served as COO at Portillo's (PTLO) and held significant roles at Starbucks (SBUX) and McDonald's (MCD).
Under Pratt's leadership at Portillo's, he drove key technology initiatives and led the company through a successful IPO in 2021. Condado Tacos, which has doubled its locations in the past three years, aims to leverage Pratt's expertise for its next growth phase.
Pratt is expected to focus on strategic expansion, operational processes, and people development at Condado Tacos, aligning with the company's vision and culture. Condado Tacos currently operates 50 locations across 10 states.
Portillo’s, a fast-casual restaurant chain known for its Chicago-style menu, announced its participation in several June investor conferences. CEO Michael Osanloo and CFO Michelle Hook will present at William Blair’s 44th Annual Growth Stock Conference on June 4, 2024, at 10:20 a.m. ET. They will also host a fireside chat at Baird’s 2024 Global Consumer, Technology & Services Conference on June 5, 2024, at 12:50 p.m. ET. Additionally, they will conduct in-person investor meetings at the Jefferies Consumer Conference on June 17 and 18, 2024. Live webcasts and replays of the presentations will be available on the company's investor relations website.
Portillo's is teaming up with Lou Malnati's for the third consecutive year to celebrate National Italian Beef Week (May 20-26) with an Italian Beef Deep Dish Pizza. This -time offering is exclusively available on TastesofChicago.com in packs of two, four, or six, and includes options for sweet peppers or hot giardiniera. Fans can also enter a sweepstakes for a $300 Tastes of Chicago gift card from May 14-19.
In addition, Portillo's is hosting an Italian Beef Sweepstakes in collaboration with Coca-Cola, giving one winner a trip for two to Chicago, including travel vouchers, a Portillo's gift card, and Lollapalooza tickets. To participate, fans must share a photo or video with the hashtag #ItalianBeefGiveaway. A special 'Promtillo’s Meal for Two' is also available for prom-goers at Portillo’s locations.
Portillo’s Inc. reported financial results for Q1 2024, with total revenue up 6.3% to $165.8 million. Same-restaurant sales decreased 1.2%, while operating income, net income, Restaurant-Level Adjusted EBITDA, and Adjusted EBITDA all saw positive growth. The company opened new restaurants, dealt with commodity inflation, and increased menu prices. Despite challenges, Portillo’s remains focused on operational excellence and guest experience.
Portillo’s announced the appointment of Keith Correia as CIO and Nick Scarpino as CMO to drive growth strategy. Correia brings IT expertise from Steak ‘n Shake, while Scarpino, a long-time Portillo’s employee, leads marketing efforts. The company aims to strengthen infrastructure, enhance guest experience, and expand nationwide.
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